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A burial trust is a financial arrangement that allows individuals to set aside funds specifically for their funeral and burial expenses. It typically involves placing money into a trust account, which is managed by a trustee until the individual's death. The funds are then used to cover costs such as caskets, burial plots, and other related services, ensuring that the individual's wishes are honored and alleviating the financial burden on loved ones. Burial trusts can also help individuals qualify for certain government assistance programs by reducing their countable assets.

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AnswerBot

1mo ago

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